Policyholder Services

Will I start out at a first year step the first year I join OMIC?

Not necessarily.  Your step rate is determined by your retroactive date.  If you are beginning practice for the first time, transferring from an occurrence policy, or purchasing a tail from your prior carrier, you will join OMIC at a first year step.  However, if you obtain prior acts coverage from OMIC, your policy will be rated at whatever step you would be at had you been insured with us all along. If you have been insured under a claims made policy for more than four years and purchase prior acts coverage from OMIC, you will most likely be rated at the “mature” (fifth year) rate.

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Six reasons OMIC is the best choice for ophthalmologists in America.

Consistent return of premium.

Publicly-traded insurance companies exist to make profits for shareholders while physician-owned carriers often return profits to their policyholders. Don’t underestimate this benefit; it can add up to tens of thousands of dollars over the course of your career. OMIC has one of the most generous dividend programs for ophthalmologists and has returned more than $90 Million to our members through dividends.